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AllLinuxDevices: Transmeta shares soar despite Crusoe doubts

"Shares in Transmeta rocketed by 115 per cent on the US
startup's first day of trading yesterday, despite fresh speculation
that Compaq and Toshiba have cancelled Crusoe projects."

In a note issued to customers on Tuesday, Piper Bancorp analyst
Ashok Kumar claimed Compaq and Toshiba have scrapped plans to
develop Crusoe-based laptops, and that Intel is now targeting the
low-power market which Transmeta is focused on.

"However, representatives from both Toshiba and Compaq said they
are still evaluating the Crusoe chips and have not made firm
decisions. Recently a Toshiba UK executive expressed doubts about
Crusoe's performance claims."

"Trading in Transmeta shares began at $21 on Tuesday and
closed at $45.25 - putting a $5.7bn valuation on the Intel
contender. Transmeta had already sold 13 million shares at $21 to
institutional investors on Monday, beefing up its coffers by
$273m."